Balboa Wealth Partners Raises Position in Caterpillar Inc. (NYSE:CAT)

Balboa Wealth Partners raised its holdings in shares of Caterpillar Inc. (NYSE:CAT) by 27.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,246 shares of the industrial products company’s stock after buying an additional 271 shares during the quarter. Balboa Wealth Partners’ holdings in Caterpillar were worth $452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CAT. Halbert Hargrove Global Advisors LLC purchased a new stake in Caterpillar in the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new position in Caterpillar in the fourth quarter valued at $31,000. Retirement Wealth Solutions LLC purchased a new position in shares of Caterpillar during the 4th quarter valued at about $34,000. Albion Financial Group UT lifted its holdings in shares of Caterpillar by 334.8% in the 4th quarter. Albion Financial Group UT now owns 100 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 77 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Caterpillar in the 4th quarter valued at $36,000. 70.98% of the stock is currently owned by institutional investors.

Caterpillar Trading Down 1.4 %

NYSE CAT opened at $333.26 on Friday. The stock’s 50 day moving average is $361.27 and its 200 day moving average is $372.42. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $159.28 billion, a PE ratio of 15.10, a P/E/G ratio of 1.87 and a beta of 1.15. Caterpillar Inc. has a twelve month low of $307.05 and a twelve month high of $418.50.

Caterpillar (NYSE:CAT) last released its earnings results on Thursday, January 30th. The industrial products company reported $5.14 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.17. Caterpillar had a net margin of 16.65% and a return on equity of 58.18%. Research analysts forecast that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Insider Activity

In other Caterpillar news, Director Gerald Johnson purchased 100 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average price of $365.57 per share, for a total transaction of $36,557.00. Following the completion of the purchase, the director now directly owns 3,053 shares of the company’s stock, valued at $1,116,085.21. This trade represents a 3.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew R. J. Bonfield sold 10,000 shares of Caterpillar stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $380.09, for a total value of $3,800,900.00. Following the completion of the sale, the chief financial officer now owns 45,182 shares of the company’s stock, valued at $17,173,226.38. The trade was a 18.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on CAT. Raymond James upgraded shares of Caterpillar from a “market perform” rating to an “outperform” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their target price on Caterpillar from $515.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Wedbush raised Caterpillar to an “outperform” rating in a research note on Monday, February 3rd. Truist Financial dropped their price objective on Caterpillar from $455.00 to $438.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, UBS Group raised shares of Caterpillar from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $355.00 to $385.00 in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Caterpillar has an average rating of “Hold” and a consensus target price of $383.80.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.